Articles by Christopher Jeffery
Economy’s ‘first responders’ now in the line of fire
Forceful but late interventions to combat inflation raise the risk of central bank overreactions
Morocco’s Jouahri on inflation, forex reform, digitalisation and sustainability
BAM governor speaks about Covid-19, Fed tightening, BIS membership, regional co-operation and inclusion
(Un)stablecoins and central banks
Time to tackle stablecoin structures and support mechanisms
Fractures in the monetary system
Seizure of Bank of Russia assets likely to have long-term implications for international system
Diego Labat on policy normalisation, capital flows and tech challenges
Uruguay governor speaks about financialisation, flexible rates vs controls, payment upgrades and CBDCs
Pierre Wunsch on inflation, forward guidance and policy tightening
Belgium’s governor speaks about models, reversing unconventional policies and other challenges
Tackling surging inflation
Central banks around the world are grappling with rapid price rises, with some taking very different routes to others
Fed’s Bullard believes a ‘five-year window’ for AIT is ‘realistic’
Too much precision can “get you into trouble”, says St Louis Fed chief
James Bullard on Fed policy, action and governance
St Louis president calls for tapering, quantifies AIT and details Congress’s role in Fed ethics
Covid-19, crypto and climate weigh on global economy – GFSR
“Intertemporal trade-offs” a challenge as some nations will not regain pre-Covid growth for “many years”, says IMF’s Adrian
Crypto asset transactions hit ‘macro critical levels’ – IMF GFSR
Crypto valuations “already systemic” in “many countries”, says IMF’s Adrian
Larry Summers on stagflation risks, lessons from Delphi and never-ending ‘punch’
Ex-US Treasury head speaks about fiscal ‘overexpansion’, Fed/Treasury debt discord and ‘unknown unknowns’
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
BIS chief speaks about policy trade-offs at a critical time, tech collaboration, tackling NBFIs and the dearth of ‘green’ assets
Too great expectations from the ECB’s strategy review
The review process represents operational best practice, but will fail to unify the Governing Council
Charles Goodhart on inflation targets, financial stability and the role of money
LSE professor says AIT a mistake, independence under threat amid inflation surge and climate stress tests unconvincing
The Belt and Road Initiative 2021 Survey – The impact of Covid‑19 on the BRI
The fourth annual Belt and Road Initiative survey reveals that the Covid‑19 pandemic has disrupted many projects despite China remaining committed to financing the initiative, which is expected to support future economic growth and environmental…
A return of the inflation monster?
Fears grow over the intellectual shift to running economies ‘hot’
Benoît Cœuré on CBDCs, stablecoins and central bank fintech co-operation
BIS Innovation Hub chief speaks about fintech risks for supervisors and monetary policy-makers, and hub development plans
Zhang Tao on the IMF’s fintech agenda, CBDCs and big tech oversight
IMF deputy MD speaks about the fund’s views on CBDC operating frameworks and macrofinancial surveillance
A bellwether moment for CBDC plans
Launch of ‘sand dollar’ may herald a new era of CBDCs as Fed and ECB step up their preparations
Mário Centeno on monetary-fiscal interaction in the eurozone
Bank of Portugal governor says ECB is not being overrun by former finance ministers, must improve the definition of its inflation target, and has no need for YCC
Ulrich Bindseil on the launch of the digital euro
ECB’s payments head speaks about the functionality, tiering and technology of the eurozone’s planned CBDC
Hernández de Cos on ECB policy, crises responses and Basel reform
Spanish governor says ECB ready to boost stimulus and Basel reforms not diminished by Covid-19 exceptions
The dawn of average inflation targeting
Failure to explain how the Fed calculates its ‘average’ for AIT creates risks